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Next Week’s Tape: Waiting for Spain to Request Bailout

The market gets a heavy dose of consumer-related news next week, a couple of notable earnings reports, possibly some earnings warnings, and quite possibly (and finally) a Spanish bailout plan.

The biggest event may once again come from Europe. There are reports that Spain is prepping a formal bailout request, which may come on Thursday, according to the FT. Spain, of course, has been denying that it needs a bailout, but actually requesting one, whatever problems it leads to down the road, would remove one unknown from the market. We suppose that’s worth something.

Here in the States, there are only a handful of earnings reports next week, highlighted by Nike and Micron on Thursday, and Lennar on Monday, but keep an eye out for earnings warnings. Given the lame expectations for the third quarter, there might be a bunch of them.

A very busy economic calendar includes readings on how consumers assess the economy and whether they are spending in the third quarter. Expectations are that consumers are feeling better in September and spent modestly in August.